LFA Investments LLC, of Coeur dAlene, says it plans to develop a 74-unit, three-building condominium complex next to the Coeur dAlene Resort Golf Course.


A cost estimate for the overall project wasnt disclosed, but Ken Ault, one of the investors involved in the project, estimates the first building alone will cost $15 million.


The complex will be named The Towers at Ridgepointe, and will be located on an 11-acre site on a hill near the south end of 18th Street, Ault says. All of the buildings will be five-story structures and will have views from their upper levels of the golf course and Lake Coeur dAlene to the south, he says.


Each building will have 75,000 square feet of floor space, he says. Two buildings will have 25 condominiums each, and one will have 24 units. The condos will range in size from about 2,200 square feet to 3,400 square feet and in price from $499,000 to $1.8 million, he says.


Infrastructure work is under way now, and construction of the 24-unit structure is expected to begin this fall and to be completed within a year, he says. Contractors Northwest Inc., of Coeur dAlene, is the contractor for the project, and Miller-Stauffer Architects PA, of Coeur dAlene, designed it. Missoula, Mont.-based First Security Bank of Missoula is financing the project.


All of the units in the first building have been sold already, Ault says. He says theres also a waiting list of prospective buyers to fill those spots if any of them become available. Windermere Coeur dAlene Realty Inc. is marketing the units.


A portion of the 24-unit building will include a common area, managers living unit, meeting room, fitness center, and changing area for a planned swimming pool there, says Monte Miller, of Miller-Stauffer Architects. That pool will have two, 25-meter lap lanes and additional space for recreational use, he says.


All three of the planned buildings will share a lodge-style exterior design and will have panoramic views of the surrounding area, Miller says. An underground parking structure also will be built at the site, he says.


LFA Investments hopes to start construction on the second building next spring, Ault says. The entire complex is expected to take up to three years to complete, and the investment group is considering developing other projects in the North Idaho area, he says.


The area is growing, and theres a real demand for what were offering, he says.


Ault also owns Ken Ault Construction Inc., of Missoula. The other investors in LFA are Stan Feist, owner of Doyles Wholesale, of Coeur dAlene, and Grant Lincoln, who owns Century Gaming Inc., of Missoula, and develops real estate in Montana.